This is how the dictionary defines compromise:
noun: compromise; plural noun: compromises
- an agreement or a settlement of a dispute that is reached by each side making concessions.
Compromise is an important part of the home buying process, especially in negotiating the deal. Compromise will be required on both sides of the deal to get it to the closing table. Real Estate professionals often ask clients to compromise on the particular features of a home during the search. We are asking our clients to settle and that is not something everyone feels comfortable doing on one of the biggest purchases of their lives. I have said it myself, but recently I was thinking about this and come to a conclusion. Proper planning can help avoid making an emotional decision and settling on your home purchase. I feel it is critical to have a list of what is important to you in purchasing a home. I suggest making 3 list: Must Haves, Would be nice to Have, and In a Perfect World I want this. Try and keep each list to 3 or 4 items. Focus on items that are not easily changed.
Example of a Must Have List:
- Location, Location Location – Honestly this is the only thing you can never change about a home. Make sure it is close to work and all the things in your life that are important to you.
- The Floor Plan – Sure you can change the layout and add square footage, but this can be expensive. If a home does not fit your minimum criteria for the number of rooms or flow, you should probably keep looking.
- School Districts – This can be a central item for many people. It is imperative that you visit your school board’s website or their office to ensure you have picked the correct location for the desired schools.
Example of a Would be Nice to Have List:
- Garages – 1, 2 or 3 — How would each affect you?
- Large Fenced Yard
- Wood Floors throughout the home
Example of In a Perfect World List:
- Open Concept floor plan
- Gas Stove
Keep in mind that there is no such thing as a perfect house. Even people who build new homes, often find things they want to change shortly after moving in their new home. Here are a few other things to consider:
- Avoid easily changeable cosmetic items such as paint, carpet and decor items. Paint is the easiest & cheapest DIY project in a home. So do not fret over those lime green walls.
- Kitchens & bathrooms are expensive to remodel. But many times you might get away with painting cabinets and putting in new countertops. Be creative, think out the box.
- Focus on the bones and structure of the home, the age of the mechanicals and roof. These are expensive items that you do not want to replace right away.
- Do not get stuck because you do not think your furniture will fit a certain room, the right house might be more important that a piece of furniture.
- Look at how the neighbors take care of their property, this could make it hard for you to sell down the road.
We have a Home Search Scorecard available on our website. Print one for each home you search or ask for your Glenn Jones Group REALTOR® to provide them for you. I also suggest you pick one unusual or fun fact to name each house, addresses run together after a long day of home visits. Name them the yellow door house, the house with a pool or the red room house. Make it fun!